Washington · statute · Wash. Rev. Code ch. 18.86 · 16 active provisions
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Agency relationship" means the agency relationship created under this chapter between a real estate firm and a principal.(2) "Agent" means a broker who has an agency relationship with a principal, including…
(1) A broker who performs real estate brokerage services for a buyer is a buyer's agent unless the:(a) Broker's firm has appointed the broker to represent the seller pursuant to a services agreement between the firm and the seller, in which case the broker is a seller's agent;(b) Broker's firm has appointed the broker…
(1) A broker owes the following duties to their principal and to all parties in a transaction, which may not be waived:(a) To exercise reasonable skill and care;(b) To deal honestly and in good faith;(c) To present all written offers, written notices and other written communications to and from either party in a timely…
A violation of either RCW 18.86.030 or 18.86.130 is a violation of RCW 18.85.361.
(1) Unless additional duties are agreed to in writing signed by a seller's agent, the duties of a seller's agent are limited to those set forth in RCW 18.86.030 and the following, which may not be waived except as expressly set forth in (e) of this subsection:(a) To be loyal to the seller by taking no action that is ad…
(1) Unless additional duties are agreed to in writing signed by a buyer's agent, the duties of a buyer's agent are limited to those set forth in RCW 18.86.030 and the following, which may not be waived except as expressly set forth in (e) of this subsection:(a) To be loyal to the buyer by taking no action that is adver…
(1) A broker may act as a limited dual agent only with the written consent of both parties to the transaction, set forth in the services agreement.(2) Unless additional duties are agreed to in writing signed by a limited dual agent, the duties of a limited dual agent are limited to those set forth in RCW 18.86.030 and…
(1) The agency relationships established pursuant to this chapter continue until the earliest of the following:(a) Completion of performance by the broker;(b) Expiration of the term agreed upon by the parties;(c) Termination of the relationship by mutual agreement of the parties; or(d) Termination of the relationship b…
(1) In any real estate transaction, a firm's compensation may be paid by the seller, the buyer, a third party, or by sharing the compensation between firms.(2) An agreement to pay or payment of compensation does not establish an agency relationship between the party who paid the compensation and the broker.(3) A seller…
A principal is not liable for an act, error, or omission by an agent of the principal arising out of an agency relationship:(1) Unless the principal participated in or authorized the act, error, or omission; or(2) Except to the extent that: (a) The principal benefited from the act, error, or omission; and (b) the court…
Unless otherwise agreed to in writing, a principal does not have knowledge or notice of any facts known by an agent of the principal that are not actually known by the principal.
The duties under this chapter are statutory duties and not fiduciary duties. This chapter supersedes the fiduciary duties of an agent to a principal under the common law. The common law continues to apply to the parties in all other respects. This chapter does not affect the duties of a broker while engaging in the aut…
The pamphlet required under RCW 18.86.030(1)(f) shall be formatted so it can be easily reviewed by a buyer or seller, including a legible font and font size. The pamphlet shall be in the following form:Real Estate Brokerage in WashingtonIntroductionThis pamphlet provides general information about real estate brokerage…
A broker may not market the sale or lease of residential real estate to a limited or exclusive group of prospective buyers or brokers, or any combination thereof, unless the real estate is concurrently marketed to the general public and all other brokers, except as reasonably necessary to protect the health or safety o…
This chapter shall take effect on January 1, 1997. This chapter does not apply to an agency relationship entered into before January 1, 1997, unless the principal and agent agree in writing that this chapter will, as of January 1, 1997, apply to such agency relationship.
This act shall take effect January 1, 1997.